Over $1 billion in fraudulent unemployment insurance claims prevented since pandemic began, DFS says

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DFS announced on Thursday that it has thwarted more than $1 billion in fraudulent unemployment insurance claims during the coronavirus pandemic, identifying and stopping more than 42,200 fraudulent unemployment benefit claims since mid-March.

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Financial regulators issue statement on managing the LIBOR transition

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The members of the Federal Financial Institutions Examination Council, which includes the NCUA, yesterday highlighted the risks that will result from the transition away from the London Inter-bank Offered Rate, or LIBOR. The regulators encouraged supervised institutions to continue their efforts to transition to alternative reference rates in order to mitigate financial, legal, operational and consumer protection risks.

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